Fortis Healthcare Subsidiary Receives GST Order for ₹5.98 Crore Demand
Fortis Healthcare Limited announced that its wholly-owned subsidiary, Fortis Health Management Limited, has received an order from the State Tax Officer (ST), Group IX, Chengalpattu Intelligence Divis...
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Why is Fortis Healthcare Limited in the news today?
Fortis Healthcare Limited (FORTIS) is in the news due to the company is contesting the gst order and expects no material financial impact, thus the sentiment is neutral.
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Fortis Healthcare Subsidiary Receives GST Order for ₹5.98 Crore Demand
January 2, 2026, 01:11 PM
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Fortis Healthcare Limited announced that its wholly-owned subsidiary, Fortis Health Management Limited, has received an order from the State Tax Officer (ST), Group IX, Chengalpattu Intelligence Division, Tamil Nadu. The GST Authority has confirmed a demand of ₹597.93 lakhs (approximately ₹5.98 crore), which includes interest of ₹79.29 lakhs and a penalty of ₹259.32 lakhs. This demand pertains to the financial year 2023-24, relating to a GST exemption on healthcare services claimed by the subsidiary.
Initially, a show cause notice was issued for ₹570.00 lakhs, including a penalty of ₹285.00 lakhs. Following the subsidiary's response, the GST Authority passed the order confirming the demand. The show cause notice for the balance amount has been dropped.
Fortis Healthcare Limited has stated that, based on its assessment, the demand is not maintainable. The company is in the process of filing an appeal against the order. The company does not anticipate any relevant impact on its financials, operations, or other activities due to this order.
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